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Crypto Currency Brief: BTC/USD breaches support on bearish momentum; Ripple pares losses; Bitcoin Cash celebrates 1-year anniversary - Wednesday, August 1st, 2018

Aug 01, 2018 11:44 am UTC| Commentary Market Roundups Economy

BTC/USD: Bitcoin prices continued to fall for the fourth consecutive day, breaching yesterdays support of $7,790, as crypto bears continued to dominate the market. While the exact reason for sell-off remains unknown,...

U.S. 10-year Treasuries eye 3 pct mark ahead of FOMC policy meet, July ADP non-farm employment change

Aug 01, 2018 11:19 am UTC| Commentary Economy

The U.S. 10-year Treasury is on its way to reach the 3 percent mark ahead of the Federal Open Market Committees (FOMC) monetary policy meeting, scheduled to be held later today. Also, the countrys ADP non-farm employment...

UK gilts disappoint as investors shrug-off fall in July manufacturing PMI ahead of BoE’s interest rate decision

Aug 01, 2018 10:13 am UTC| Commentary Economy

The United Kingdoms gilt prices disappointed on Wednesday despite a decline in the countrys manufacturing PMI for the month of July. Investors will now be awaiting the Bank of Englands (BoE) monetary policy meeting,...

ADP employment report preview

Aug 01, 2018 09:37 am UTC| Commentary Economy

ADP employment data to be released at 12:15 GMT, is todays most vital dockets from the US to be watched by market participants. This report is one of the key data that investors will use to gauge US economic...

German bunds plunge despite lower-than-expected July manufacturing PMI; 10-year auction in focus

Aug 01, 2018 09:08 am UTC| Commentary Economy

The German bunds plunged during European session Wednesday after investors have largely shrugged-off the countrys lower-than-expected manufacturing PMI for the month of July. Investors are awaiting the long-term 10-year...

Global Geopolitical Series: U.S. slaps duties on plastic ribbons from China

Aug 01, 2018 08:51 am UTC| Commentary Economy

Yesterday, the U.S. Commerce Department concluded its preliminary investigations into imports of certain plastic decorative ribbon from China and it has found that exporters from China are selling the above-mentioned...

New Zealand’s Q2 employment report remains mostly robust, likely to provide relief to RBNZ: Westpac Research

Aug 01, 2018 08:37 am UTC| Commentary Economy Central Banks

Labour market conditions were generally firmer in the June quarter. Jobs growth was robust, though the unemployment rate ticked up slightly. With the economy moving closer to full capacity, the first signs of a stirring in...

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Economy

Taiwan Stock Market Ends Higher as Semiconductor and Energy Shares Lead Gains

Taiwan stocks closed higher on Thursday, supported by broad-based gains across key sectors including semiconductors, oil, gas and electricity, as well as construction. The Taiwan Stock Exchange Weighted Index finished the...

BOJ Governor Signals Gradual Rate Hikes as Japan’s Inflation Nears 2% Target

Bank of Japan Governor Kazuo Ueda said Japans underlying inflation is steadily accelerating and moving closer to the central banks long-standing 2% target, reinforcing expectations that interest rate hikes will continue if...

UBS Warns of Short-Term Risks as Precious Metals Rally to Record Highs

Gold, silver, and platinum have surged to fresh record highs heading into the year-end holiday period, drawing strong attention across global commodity markets. However, UBS is urging investors to exercise caution, warning...

Japan Revises Economic Growth Forecast as Stimulus Fuels Consumption and Investment

Japans government has revised upward its economic growth forecast for the fiscal year ending next March and projected faster expansion in the following year, citing the positive impact of a large-scale stimulus package...

U.S. Stocks Rally to Record Highs as AI Rebound Fuels Holiday-Shortened Session

U.S. stocks closed higher on Wednesday, with the Dow Jones Industrial Average and the SP 500 finishing at record closing highs during a broad-based rally in a holiday-shortened trading session. All three major indexes...

Politics

U.S. Prioritizes Economic Pressure With Venezuelan Oil Quarantine as Sanctions Intensify

The United States has shifted its near-term military focus toward enforcing a so-called quarantine on Venezuelan oil exports, signaling a strategy that prioritizes economic pressure over direct military confrontation....

Hanwha Signals Readiness to Build Nuclear-Powered Submarines at Philly Shipyard for U.S. Navy

Hanwha Group has announced that its Philadelphia-based shipyard has the technical capability to build nuclear-powered submarines for the U.S. Navy, highlighting the South Korean conglomerates growing ambitions in the...

China’s One-Child Policy Legacy Resurfaces After Death of Former Population Chief

The death of Peng Peiyun, a former senior Chinese official who oversaw the countrys one-child policy for a decade, has reignited fierce debate on Chinese social media about the long-term impact of the controversial...

Christmas Eve Jazz Concert Canceled After Kennedy Center Renaming to Include Trump

A planned Christmas Eve jazz concert at the Kennedy Center in Washington, D.C., has been canceled following a controversial decision to rename the iconic performing arts institution to include the name of Republican U.S....

Palau Agrees to Accept Up to 75 U.S.-Transferred Migrants in Deal Tied to Increased American Aid

Palau has agreed to accept up to 75 migrants transferred from the United States after signing a memorandum of understanding (MOU) with Washington, a move that has drawn international attention amid ongoing debate over U.S....

Science

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance

NVIDIA (NASDAQ: NVDA) has reportedly agreed to acquire Groq, a fast-growing designer of high-performance artificial intelligence accelerator chips, in a $20 billion all-cash transaction, according to a CNBC report. The...

Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling

A federal judge in Texas has blocked the enforcement of a new state law that would have required app stores and developers to verify users ages, marking a significant legal win for major technology companies and digital...

FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement

The U.S. Federal Trade Commission has welcomed Instacarts decision to end its artificial intelligence-based price testing, a move that follows weeks of consumer backlash and regulatory scrutiny. FTC Chair Andrew Ferguson...

John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training

Investigative journalist John Carreyrou, widely known for exposing fraud at Silicon Valley blood-testing startup Theranos and for authoring the bestselling book Bad Blood, has filed a new copyright infringement lawsuit...

Italy Fines Apple €98.6 Million Over App Store Dominance

Italys competition authority has imposed a 98.6 million ($115.53 million) fine on U.S. technology giant Apple and two of its subsidiaries, citing alleged abuse of a dominant market position related to the distribution of...